WHERE’S THE FUNDING?

Adenike Sheriff is a VC investor, Co-founder, and Principal at Future Africa, a platform that provides capital, coaching, and community for mission-driven innovators building an African Future where purpose and prosperity are within everyone’s reach. Future Africa is helping early-stage entrepreneurs solve some of Africa’s most pressing problems. Other co-founders include Iyinola Aboyeji, co-founder of Flutterwave (Fintech company), and Andela (a tech talent sourcing company). 

Key interview highlights: 

• Over 3.5 million dollars have been deployed to companies through the fund since March of 2020. 20 companies are presented within a year to members of the collective and if they are interested in a company they can invest via a special purpose vehicle. 
• The Future Africa Fund enables limited partners to get diversified returns without having to take on deal-specific risk. 
• Limited partners can commit a minimum of $25,000 per quarter and gain pro-rata exposure to all investments Future Africa participates in. 
• Do not approach VC for funding if you are not prepared. 
• VC funding isn’t the only way to raise funding for your business. 

Glossary: 

Secondaries: Secondary investments are primarily purchases of funds that are three to seven years old with existing underlying portfolio companies. Sales are often driven by an investor's need for liquidity or an active approach in managing their private equity portfolio. 

Limited partners: In the context of private equity, a limited partner (or LP) is a third-party investor in a private equity fund. They are passive investors with the income and expenses flowing directly to their hands to be taxed in the year when they accrue. 

Special Purpose Vehicle: An SPV is created as a separate company with its own balance sheet. It may be used to undertake a risky venture while reducing any negative financial impact upon the parent company and its investors. 

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